Azerbaijani President: We used our oil revenues in a very effective way

Baku. 8 November. REPORT.AZ/ “Today, results of the Contract of Century are not only measured with revenues that go to the State Oil Fund.”

Report informs, President of Azerbaijan Ilham Aliyev said at the solemn ceremony organized at Heydar Aliyev Center on the occasion of production 2 billion oil in Azerbaijan.

“It had very broad and great impact and it still has. We managed to turn the black gold into human capital. We used our oil revenues in a very effective way and today it is underlined on a global scale. A lot of countries have rich oil fields but those countries are in abjection, live in poverty. Stability is breached in those countries, oil brings disaster for those countries. In Azerbaijan oil brings welfare, development, stability and power. Oil and gas factor plays a great role in our living as an independent state and forming our economic potential. Everyone should know that,” said the head of state.